PPG Industries, Inc. (NYSE:PPG) Shares Sold by Smithfield Trust Co

Smithfield Trust Co trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,931 shares of the specialty chemicals company’s stock after selling 2,451 shares during the quarter. PPG Industries comprises approximately 0.7% of Smithfield Trust Co’s portfolio, making the stock its 28th biggest position. Smithfield Trust Co’s holdings in PPG Industries were worth $14,570,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its stake in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the last quarter. FMR LLC increased its position in PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after buying an additional 354,740 shares during the period. Assenagon Asset Management S.A. increased its position in PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after buying an additional 206,853 shares during the period. Finally, Barclays PLC lifted its stake in PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after buying an additional 198,353 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPG. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group reduced their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Stock Down 2.0 %

PPG opened at $109.46 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.61. The stock has a market capitalization of $24.84 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.19 and a beta of 1.23. The business has a 50 day simple moving average of $117.17 and a 200-day simple moving average of $122.93.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.